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if an invoice/payments relates to the expenses in the period just ended it must be accrued as at the year end. question,what is the review of the invoices received or payment made shortly after the year end be testing? completeness of the accruals and/or the existence of liability or vice versa.
Completeness of the accrual (which is the liability). It must be completeness because the direction of testing is from sources of evidence [that there is a liability] – the purchase invoices and the post y/e payments – to what is recorded in the financial statements (the accrual).
For existence, the direction of testing is always from what is recorded (the accrual) to the source.
As I happen to have explained in a recent post https://opentuition.com/topic/audit-risk-67 – the risk that liabilities are incomplete (understated) is a greater risk than that they are overstated.